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Author Topic: PGOL - Patriot Gold Corp (Royalty Company)
chiliandrillman
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Patriot Gold Corp Due Diligence Report (Gold Royalty & Exploration Company)

All information below can be found at www.Sedar.com

Stock Ticker: PGOL - Same ticker for Canadian & US Exchanges
Price: $0.20 CDN & $0.14 USD
Common Shares: 74,319,957
Insider Holdings: 36,752,750 or 49.5% - See Annual Information
Company Website: www.patriotgoldcorp.com

Basic description: PGOL owns 3 royalties (1 producing) and 3 exploration properties. The producing Moss Mine has a 10 year life (started in 2018), which is currently being increased by Northern Vortex(NEE.V). The company clearly states in their most recent presentation that they want to ramp up production by 10 fold, which would mean multi million dollar royalties for Patriot Gold every quarter. NEE.V is also increasing it’s resource as we speak, so royalty payments will for sure exceed the 10 years - https://www.northernvertex.com/investors/presentations/

PGOL only started trading on the CSE at the end of summer 2020, so volume has been low, compared to the US side which trades daily and in large volume. But the Canadian side will catch up as time goes on and more profitable quarters are announced. To get an accurate market depth, you want to compare what’s shown on the US side and it translates to the Canadian side at roughly 1.30 exchange rate. The CSE might not show all those bids/asks because of the alternate trading systems.

Financials (Ending September 30th 2020) - All numbers are in US Dollars

ASSETS
Cash: $583,866
Marketable Securities: $224,554
Royalty Receivables: $1,159,856
Prepaid Expenses: $109,339
Long Term Assets: $300,000
Total Assets: $2,377,615

LIABILITIES
Accounts Payable: $171,852
Total Liabilities: $171,852

9 Month Revenue Performance
Royalty payments: $1,734,325
Net Income: $1,107,495
Earnings Per Share: $0.015 USD or $0.0193 CAD

Note: Patriot Gold has set a budget of $1,000,000 for it's G&A + exploration expenses in 2020. This will continue on a yearly basis, so investors know what the company intends to spend in the fiscal year.

Royalty Interests

Pursuant to the Purchase and Sale Agreement with Golden Vertex, the Company has a 3% net smelter return royalty on the Moss Mine in Arizona. For the nine months ended September 30, 2020 and 2019, the Company earned royalties of $1,734,325 and $973,271, respectively. As of September 30, 2020 and December 31, 2019, the Company had Royalties Receivables of $1,159,856 and $487,060, respectively.

Pursuant to the Bruner Purchase and Sale Agreement with Canamex Resources, the Company has a 2% net smelter return royalty on the Bruner Gold/Silver mine in Nevada. As of September 30, 2020, no royalties have yet been earned. (This asset has a high grade proven gold/silver resource)

In March 2019, the Company purchased a Vanadium Oxide royalty interest from a related party. In exchange for a non-refundable payment of $300,000, the Company will receive royalties based on the gross production of Vanadium Oxide (“Vanadium”) from a bitumen deposit covering several oil sands leases in Alberta. For each barrel of bitumen produced from the specified oil sands until March 21, 2039, or upon termination of mining, whichever is earlier, the Company will be paid a royalty equal to 25 grams of Vanadium per barrel of bitumen produced, multiplied by the price of Vanadium Pentoxide 98% min in-warehouse Rotterdam published on the last business day of the month in which the gross production of bitumen occurred. As of September 30, 2019, $240,000 has been paid, and the remaining $60,000 was paid in installments through December 31, 2019. As of September 30, 2020, no royalties have yet been earned.

Mineral Properties

Windy Peak Property

The Windy Peak Property, (“Windy Peak”) consists of 114 unpatented mineral claims covering approximately 2,337 acres, 3 miles NNE of the Bell Mountain and 7 miles east of the Fairview mining district in southwest Nevada. As of September 30, 2020, the company has incurred approximately $801,025 of exploration expenses on the Windy Peak Property, and$113,816 and $124,056 were spent for the nine months ended September 30, 2020 and 2019, respectively.

Rainbow Mountain Property

In the fall of 2018, after conducting initial reconnaissance of the Rainbow Mountain, the Company acquired the Rainbow Mountain Property (“Rainbow Mountain”). This early-stage exploration project was secured through staking and filing the associated paperwork and fees with the BLM and County.

The Rainbow Mountain gold project consists of 81 unpatented lode claims totaling approximately 1,620 contiguous acres, located approximately 23 km southeast of Fallon, in the state of Nevada. Access to the project area is by paved highway, followed by a short stretch of gravel road.

Annual maintenance fees paid to the BLM and recording fees must be paid to the respective county on or before September 1 of each year to keep the claims in good standing, provided the filings are kept current these claims can be kept in perpetuity. As of September 30, 2020, the company has incurred approximately $101,208 of fees and exploration expenses on the Rainbow Mountain Property, and $13,194 and $2,160 were spent for the nine months ended September 30, 2020 and 2019, respectively.

Bruner and Vernal Properties

On May 28, 2010 the Company entered into an exclusive right and option agreement with Canamex Resources Corp. (“Canamex”) whereby Canamex could earn a 70% (or up to 75% if a bankable feasibility study is performed) undivided interest in the Bruner, and Bruner Expansion properties, herein after collectively referred to as the “Bruner Properties”. Upon the completion of the terms of the Agreement by Canamex, and upon earning its initial interest, the parties agreed to negotiate a definitive joint venture agreement in good faith to supersede the agreement. During the first half of 2016, it was determined by the Company that Canamex had successfully earned a 70% interest in the Bruner Property according to the terms of the Bruner Option Agreement.

On April 25, 2017, the Company and Canamex Resources Corp. entered into a purchase and sale agreement (“Bruner Purchase and Sale Agreement”) whereby Canamex Resources purchased Patriot Gold's 30% working interest in the Bruner gold/silver mine for US$1,000,000 cash. The Company retains a two percent net smelter return (“NSR”) royalty on the Bruner properties including any claims acquired within a two-mile area of interest around the existing claims. Additionally, Canamex has the option to buy-down half of the NSR royalty retained by Patriot for US$5 million any time during a five-year period following closing of the purchase and sale agreement.

As of September 30, 2020, the Company has incurred approximately $89,616 of accumulated option and exploration expenses on the Vernal property. During the nine months ended September 30, 2020 and 2019, the Company incurred no exploration expenses on the Vernal property, respectively.


You can get free Level 2(Market Depth) for each exchange at the following websites:

Canada: https://www.thecse.com/en/listings/mining/patriot-gold-corp

USA: https://www.otcmarkets.com/stock/PGOL/quote#level-2

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chiliandrillman
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News: Drilling to Commence at Patriot Gold's Rainbow Mountain Gold Project in Nevada

http://www.patriotgoldcorp.com/news/?id=118&title=Drilling-to-Commence-at-Patrio t-Golds-Rainbow-Mountain-Gold-Project-in-Nevada

Drilling to Commence at Patriot Gold's Rainbow Mountain Gold Project in Nevada
December 10, 2020

Patriot Gold Corp ("Patriot") provided the following update today to shareholders.

Patriot Gold today announced that a drill rig and crew are on-site at Patriot's Rainbow Mountain gold project near Fallon, Nevada. A drilling program is planned to test several gold targets. This reverse-circulation drilling program follows sampling and other field work conducted by Patriot. Patriot's 100%-owned Rainbow Mountain gold project is situated on the margins of the Walker Lane belt and the Basin and Range province.

The CSE has neither approved nor disapproved the information contained herein.

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chiliandrillman
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Some extra information here. PGOL is required to update shareholders via TheCSE website on a monthly basis. Link below, along with a couple updates for January (See Form 7)

https://www.thecse.com/en/listings/mining/patriot-gold-corp

Report on Business

1. Provide a general overview and discussion of the development of the Issuer’s business and operations over the previous month. Where the Issuer was inactive disclose this fact.

Patriot has completed a drilling program on its Rainbow Mountain project and is awaiting assay results.

2. Provide a general overview and discussion of the activities of management.

We are moving forward on certain field operations on the Rainbow Mountain and Windy Peak projects. We are also vetting potential projects.

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chiliandrillman
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December 21, 2020 Kitco Interview With Northern Vertex CEO (Company That Pays PGOL's 3% Royalty At The Moss Mine)

https://www.youtube.com/watch?v=_-xM-QxuY5A

Key Parts: 3:30 - Drilling 32,000m, going to see a significant increase in the total resource

10:25 - New 43-101 resource to come out anytime between January to June

12:50 - CEO believes that this will be a multi million ounce deposit Note:

Keep in mind that every 500,000 ounces mined, at an average price of $1,900, is $28.5 Million USD in royalty payments to PGOL.

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Drilling Commencing at Patriot Gold's Windy Peak Gold Project in Nevada

2021-01-06 07:04 MT - News Release


LAS VEGAS, NV / ACCESSWIRE / January 6, 2021 / Patriot Gold Corp. (CSE:PGOL)(OTCQB:PGOL) - Patriot Gold Corp. ("Patriot") today announced that a drill rig and crew are on-site at Patriot's Windy Peak gold project near Fallon, Nevada. A drilling program is planned to test several gold targets. This reverse-circulation drilling program follows a core drilling program executed by Patriot at Windy Peak in the autumn of 2018, and a reverse circulation drilling program executed by Patriot in the winter of 2019. Patriot's 100%-owned Windy Peak gold project is situated in a gold-producing region which hosts such deposits as the Paradise Peak and Rawhide.

About Patriot Gold Corp

Patriot is exploring its 100%-owned gold projects in Nevada, which include the Windy Peak gold project, Rainbow Mountain gold project, and Vernal gold project. Patriot owns a 3% royalty in the Moss Mine in Arizona, now in commercial production. Patriot also owns a 2% royalty in the Bruner gold project in Nevada.

On Behalf of the Board of Patriot

Trevor Newton
President, Director

www.PatriotGoldCorp.com

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PGOL Insider/Institutional Holdings at 50%. Information can be found on Patriot Gold Corp’s most recent annual information sheet on Sedar and Royalty Streams most recent financials. See links below. Royalty Stream also verifies in their presentation that the Moss mine has a very long production life, with upside.
Robert D. Coale Common Stock 731,250 (1) 1%
Trevor Newton Common 19,921,500 (2) 26.8%
Series A Preferred Stock 290,000 100%
Zachary Black Common Stock 500,000 (3) 0.7%
Directors and Officers as a Group Common Stock (3 individuals) Common Stock 21,152,750 28.5%
Directors and Officers as a Group Series A Preferred Stock (3 individuals)
Series A Preferred Stock 290,000 100%
KF Business Ventures, LP Common Stock 6,000,000 8.1%
Ron Daems Common Stock 9,600,000 12.9%
Royalty Stream Corp. 3,000,000 0.4%

https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00036491

https://www.royaltystreams.com/investors/

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chiliandrillman
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https://www.barchart.com/stocks/quotes/PGOL/opinion

Patriot Gold Corp (PGOL)
0.1605 +0.0001 (+0.06%) 01/15/21 [OTC US]
BARCHART OPINION for Fri, Jan 15th, 2021Tutorial Alerts Watch Help
Overall Average:
100% BUY
Overall Average Signal calculated from all 13 indicators. Signal Strength is a long-term measurement of the historical strength of the Signal, while Signal Direction is a short-term (3-Day) measurement of the movement of the Signal.

Composite Indicator
TrendSpotter
BUY
Short Term Indicators
20 Day Moving Average
BUY
20 - 50 Day MACD Oscillator
BUY
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BUY
20 - 200 Day MACD Oscillator
BUY
20 - Day Average Volume: 141,730 Average: 100% BUY
Medium Term Indicators
50 Day Moving Average
BUY
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BUY
50 - 150 Day MACD Oscillator
BUY
50 - 200 Day MACD Oscillator
BUY
50 - Day Average Volume: 115,360 Average: 100% BUY
Long Term Indicators
100 Day Moving Average
BUY
150 Day Moving Average
BUY
200 Day Moving Average
BUY
100 - 200 Day MACD Oscillator
BUY
100 - Day Average Volume: 122,912

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chiliandrillman
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Two important articles out yesterday and today.

PGOL will earn $700K USD In Q4. New Update From CSQ Regarding Bruner:

1) Northern Vertex reported revenue of $23.4 million USD. That means $700,000 USD is owed to PGOL for Q4 2020

https://www.newswire.ca/news-releases/northern-vertex-reports-revenue-of-us-23-4 -million-and-production-of-12-401-gold-equivalent-ounces-for-quarter-ending-dece mber-31-2020-815331581.html

2) Canamex Gold Corp has updated the markets after several months and their Bruner project should be moving forward this year, once some debt issues are resolved. PGOL has a 2% royalty on this property and there is around 500,000 ounces of gold proven.

https://www.stockwatch.com/News/Item?bid=Z-C:CSQ-3018883&symbol=CSQ®ion=C

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chiliandrillman
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CSE update came out. Looks like Windy Peak and Rainbow have both been drilled, pending results:

https://www.thecse.com/en/listings/mining/patriot-gold-corp


Jan 1 2021 Update:

Patriot has completed a drilling program on its Rainbow Mountain project and is awaiting assay results.

Patriot has completed a drilling program on its Rainbow Mountain project and is awaiting assay results.

Feb 1 2021 Update:

Patriot has completed a drilling program on its Windy Peak project and is awaiting assay results.

We are conducting exploration on the Rainbow Mountain and Windy Peak projects. We are also vetting potential projects.

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The merger between NEE and EGLD is now complete. This is great news for PGOL because the new company will be better funded and allow for increase production, plus prove up more gold/silver ore at Moss.

Eclipse Gold receives court OK for Northern Vertex deal

2021-02-09 21:01 MT - News Release

See News Release (C-EGLD) Eclipse Gold Mining Corp

Mr. Kenneth Berry of Northern Vertex reports

ECLIPSE GOLD RECEIVES FINAL COURT ORDER APPROVING PLAN OF ARRANGEMENT WITH NORTHERN VERTEX AND ANNOUNCES SECURITY HOLDER VOTING RESULTS

Eclipse Gold Mining Corp. has received a final order from the Supreme Court of British Columbia, approving the previously announced plan of arrangement between Eclipse and Northern Vertex Mining Corp. pursuant to which Northern Vertex will acquire all of the issued and outstanding common shares of Eclipse. Pursuant to the transaction, Eclipse shareholders will be entitled to receive 1.09 common shares of Northern Vertex in exchange for each common share of Eclipse held. Please see the joint news releases of Northern Vertex and Eclipse dated Dec. 7, 2020, Dec. 21, 2020, and Jan. 14, 2021, for further details regarding the transaction, as well as Eclipse's management information circular dated Dec. 30, 2020, available under Eclipse's corporate profile on SEDAR.

Receipt of the final order follows Eclipse's special meeting of securityholders, held on Feb. 4, 2021, where the transaction was overwhelmingly approved by 99.82 per cent of the votes cast by the shareholders of Eclipse and 99.83 per cent of the votes cast by the shareholders and the optionholders of Eclipse voting as a single class. Closing of the transaction remains subject to customary closing conditions, including final approval of the TSX Venture Exchange.

The transaction is currently anticipated to close on Feb. 12, 2021. Eclipse has applied to the exchange to delist its common shares from trading on the exchange following the closing of the transaction. Eclipse will request that trading in the Eclipse shares will be halted after market close on Feb. 11, 2021. Assuming the transaction closes on Feb. 12, 2021, the common shares of Eclipse are expected to be delisted after market close on or about Feb. 16, 2021.

About Northern Vertex Mining Corp.

Northern Vertex owns and operates the Moss mine, currently the largest pure gold and silver mine in Arizona. Focused on low-cost gold and silver production, the company has experience across all areas of operations, mine development, exploration, acquisitions and financing of mining projects. With operations at the flagship Moss, the company intends to consolidate additional producing and exploration gold assets within the western United States. Through mergers and acquisitions, Northern Vertex has a corporate goal to become a mid-tier gold producer.

About Eclipse Gold Mining Corp.

Eclipse Gold Mining is exploring the district-scale Hercules gold property within Nevada's Walker Lane trend. The Hercules property is located only a one-hour drive from Reno and appears to have all the characteristics of a large, low-sulphidation, epithermal, gold system. The company brings together a team with a record of extensive mergers and acquisitions and nine successful buyouts totalling $4.6-billion.

We seek Safe Harbor.

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chiliandrillman
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PGOL put out another monthly report yesterday on the CSE. Looks like we are waiting on both Rainbow and Windy Peak assay results now. The fact that the company mentions additional work is being done on both properties tells me that drill results must of looked good from a mineralization standpoint? Otherwise why continue working on the two projects right away. But also past results have indicated that Windy Peak has some good gold potential. Rainbow we aren't sure just yet because drilling hasn't happened on that lease. Because Nevada is the hottest spot in the world for mining at the moment, it's a doubled edged sword. Patriot's assets are more sought after, but getting simple things done like hiring a drill crew or getting assays completed will take much longer. Then we have year end results out at the end of March, which we already know will be good because is a royalty is pretty simple to calculate. Then Q1 results will be out in May, again we know it's good because all you have to do is take 3% of whatever Nothern Vertex's revenue is for their quater and voila.

March CSE Update Link: https://webfiles.thecse.com/0321_CSE_Form_7_-_Monthly_Progress_Report.docx?bAqDg 2RQ_ZvuuCdUq2CZoQyBb7Z14S73

Report on Business
1. Provide a general overview and discussion of the development of the Issuer’s business and operations over the previous month. Where the Issuer was inactive disclose this fact.

Patriot is awaiting assay results from drilling programs on its Windy Peak and Rainbow Mountain projects.
2. Provide a general overview and discussion of the activities of management.

We are continuing to conduct exploration on our Rainbow Mountain and Windy Peak projects, and are vetting potential projects.

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Northern Vertex finally released a new company presentation today. I checked last week and it wasn't there. Good information and some timelines on it. PGOL has a 3% NSR on Moss, so getting more drill results this year and an updated 43-101 will add significant value to the royalty on this property. https://www.northernvertex.com/site/assets/files/2310/03_22_2021_vertex_corp_pre s_final-v2.pdf

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After a couple years of doing nothing with Burner, CSQ is finally selling this fantastic gold project off to another company which should be capable of putting it into production. PGOL owns a 2% NSR on this asset. For more information, see Canamex's website. https://www.canamexgold.com/bruner/
Canamex signs exclusivity deal for Bruner project

2021-04-06 11:32 MT - News Release


Mr. David Vincent reports

BRUNER GOLD PROJECT EXCLUSIVITY AGREEMENT, CONVERTIBLE DEBENTURES, FORBEARANCE AGREEMENT

Canamex Gold Corp. has provides an update regarding an exclusivity agreement on the Bruner gold project executed on March 31, 2021, and an update on the status of its secured convertible debentures issued by the company on Oct. 25, 2016, and Dec. 23, 2016, and which matured on Oct. 25, 2019, and Dec. 23, 2019, respectively.

Exclusivity Agreement

On March 31st, 2021 the Company executed an Exclusivity Agreement with a third party, for the potential sale and purchase of the Company's 100% controlling beneficial interest in the Bruner Gold Project (the "Transaction").

Under the Exclusivity Agreement, the terms of the Transaction are non-binding and indicative, until after completion of positive due diligence and completion of other customary closing conditions, including approval by the Board and the shareholders of the Company, and the execution of a definitive binding agreement.

The Company will keep all stakeholders updated, on the progress of the Transaction as milestones are completed.

If a definitive binding agreement is executed with regards to the Transaction, then the Gold Forward sale Agreement with MetalStream (refer below) will be terminated by the Company, being a condition precedent.

Forebearance Agreement

The Company is pleased to announce that a Forbearance Agreement dated April 1st, 2021 has been executed by the Company and Concept Capital Management Ltd. ("Debenture Holders Agent").

The Debenture Holders Agent has agreed to further forbear from exercising their rights and remedies under the Debentures and related security documents (collectively, the "Loan Documents") arising from the delays by the Company in paying interest and repaying the principal of the Debentures, provided that the Outstanding Obligations under the Debentures are repaid on or before August 31st, 2021.

If the Company fails to make full payment, including any agreed penalties, on or before August 31st, 2021, then the Debenture Holders Agent shall be entitled, at their sole discretion, to enforce their rights under the Loan Documents.

Gold Forward Sale - Update

On July 15th, 2020 the Company provided an update regarding the status of its Gold Forward Sale Agreement (the "Agreement") with MetalStream Ltd ("MetalStream"), originally announced January 27, 2020 and an extension announced April 23, 2020.

The Company advised that the initial first tranche payment was increased to US$5,500,000; and was delayed due to Covid-19 related banking and logistic delays, experienced by MetalStream. Despite these Covid-19 related delays, the Company and MetalStream remain fully committed to the Agreement; and the first tranche payment is expected to be completed before August 31st, 2021.

The subsequent second and third tranches payable under the Agreement were also amended as follows:

a) Second tranche payment of US$5,000,000 was increased to US$5,500,000.
b) Third tranche payment of US$25,000,000 was reduced to US$24,000,000.
The Company proposes to use the above proceeds from its Agreement with MetalStream, to settle the interest and any penalties, and repaying the principal of the Debentures, on or before August 31st, 2021.

If a definitive binding agreement is executed with regards to the Bruner Gold Project Transaction announced above, then the Gold Forward sale Agreement with MetalStream will be terminated by the Company, being a condition precedent.

The Company will keep all stakeholders updated, on the progress of the Gold Forward Sale transaction with MetalStream.

About Canamex

Canamex is a public listed company registered in British Columbia, Canada, trading on the Canadian Securities Exchange (CSE: CSQ) and is engaged in pre-development of the Bruner gold and silver project in the prolific gold jurisdiction of Nye County, Nevada. The region is home to several producing and past-producing mines along the Walker Lane Trend. Canamex completed a positive Preliminary Economic Assessment (PEA) on the Bruner project in 2016. Based on additional drilling conducted on the property, the company completed an updated PEA in 2018, which increased the resources and improved the economics of the project.

The PEA is based primarily on indicated resources, but also included about 10% inferred resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized.

Canamex is planning to move the Bruner project forward into permitting and development using the proceeds from a gold stream forward sale to MetalStream Limited.


We seek Safe Harbor.

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Patriot Gold Corp Audited Year End Results

Link: https://www.otcmarkets.com/filing/html?id=14870454&guid=x9jpUKCL2qz9Mth

Ticker Symbols: PGOL for both exchanges (OTC & CSE)
Price: $0.13USD and $0.20CDN
Common shares: 74,380,354
Insider/Institutional Holdings: 49.5%
Website: www.patriotgoldcorp.com

Financial Breakdown below. All numbers are in $USD

Note: Northern Vertex Mining owns the Moss mine and pays Patriot Gold royalties on a ongoing basis. This mine has several years of production left, based on the last 43-101 resource report. This report will be updated shortly and will extend the life on the Moss mine, giving PGOL additional years of royalty revenue. As well, the company will be releasing drill results on it's own properties, Rainbow & Windy Peake, shortly. Bruner, the other royalty held by Patriot Gold also had an update recently via Canamex Gold.

Financials

ASSETS In $USD
Cash: $1,123,132
Marketable Securities: $221,580
Royalty Receivables: $1,076,130
Prepaid Expenses: $105,000
Deferred Tax Asset Allowance: $1,165,000
Total Assets: $3,691,842

LIABILITIES in $USD
Accounts Payable: $50,763
Accounts Payable(Related parties): $182,618
Total Liabilities: $233,381

2020 Performance In $USD
Revenue: $2,468,078
Total Expenses: $1,369,210
Net Income Before Taxes: $862,293
Income Tax Benefit: $1,165,000 - See Note 10 (Additional $8.7 million in tax benefits)
Net Income: $2,027,293 or $0.03c USD

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Northern Vertex announced their first quarter results this week. 9,912 ounces of gold mined, so at say $1750 average, that's $17.346 million USD. At a 3% royalty to PGOL, we get $520k USD for the quarter. Patriot's next quarter should be out at the end of May.

https://www.stockwatch.com/News/Item/Z-C!NEE-3064909/C/NEE

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chiliandrillman
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PGOL Q1 Results + New High Grade Drill Results

PGOL had a good quarter, despite much lower gold prices and higher G&A due to drilling. However, once you remove the one time expense of a decrease in market securities, Patriot Gold did still show a profit for the quarter. Gold prices are now coming back and Nothern Vertex(operator of Moss Mine) has been intersecting some amazing assay results which will be part of Patriot's NSR of 3%. See links below:

PGOL Q1 Results - https://www.otcmarkets.com/filing/html?id=14956709&guid=PpanU6q4kYOKEth

NEE Recent Drill Results - https://www.juniorminingnetwork.com/junior-miner-news/press-releases/493-tsx-ven ture/nee/99450-northern-vertex-intersects-28-96-meters-grading-2-28-g-t-gold-and -28-84-g-t-silver-in-resource-expansion-drilling-at-the-moss-mine-arizona.html

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A proper due diligence will lead you into prosperity

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chiliandrillman
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Canamex To Sell Bruner To Endeavour Silver - PGOL Owns 2% NSR On The Project. Roughly 500,000 ounces of gold already proven with only a fraction of the property explored.


2021-07-19 14:10 MT - News Release


Mr. David Vincent reports

CANAMEX ENTERS INTO DEFINITIVE AGREEMENT TO SELL BRUNER PROPERTY

Canamex Gold Corp. has entered into an asset purchase agreement with Endeavour Silver Corp. pursuant to which Endeavour will acquire a 100-per-cent interest in the company's Bruner gold property, located in Nye county, Nevada, including mineral claims, mining rights, property assets, water rights, and government authorizations and permits, for a purchase price of $10-million (U.S.) payable in cash. Completion of the proposed transaction contemplated by the agreement is subject to all necessary approvals, including the approval of the shareholders of the company and customary regulatory approvals.

Special meeting of the shareholders of the company

As the proposed transaction constitutes the disposition of substantially all of the company's assets, the company is holding a special meeting of its shareholders on Aug. 25, 2021, to seek approval by a special resolution of the shareholders for the transactions contemplated by the agreement. The record date for the meeting will be July 19, 2021. Additional information about the proposed transaction and the agreement will be contained in a management information circular, which will be sent to the company's shareholders and filed on the company's SEDAR profile prior to the meeting.

About Canamex Gold Corp.

Canamex is a publicly listed company registered in British Columbia, Canada, trading on the Canadian Securities Exchange and is engaged in predevelopment of the Bruner gold and silver project in the prolific gold jurisdiction of Nye county, Nevada.


We seek Safe Harbor.

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A proper due diligence will lead you into prosperity

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Patriot Gold drills 170 ft of 0.629 ppm Au at Windy

https://www.stockwatch.com/News/Item/Z-C!PGOL-3115446/C/PGOL

Patriot Gold drills 170 ft of 0.629 ppm Au at Windy

2021-07-26 10:31 ET - News Release

Mr. Trevor Newton reports

PATRIOT GOLD ANNOUNCES RESULTS FROM DRILLING PROGRAM AT WINDY PEAK GOLD PROJECT IN NEVADA

Patriot Gold Corp. has released results from its recent drilling program at the Windy Peak gold project in Churchill county, Nevada. The drilling program was designed to follow up 2019 drilling results in the Windy Flats North area and to target historic drill intercepts in the Windy Peak Base and Windy Flats South target areas.

Drilling commenced in January, 2021, and consisted of 12 drill holes totalling 5,005 feet: five drill holes in the Windy Peak Base target area, three drill holes at Windy Flats North and four drill holes in the Windy Flats South target area. Drill hole locations and orientations were selected with the intent of confirming the presence of and better defining the extent of previously encountered zones of mineralization.

Assay results from drilling at Windy Peak Base indicate one or more mineralized zones dipping approximately 30 degrees to the east or 40 degrees to the northeast. The mineralized drill intercepts are thought to slightly exaggerate the true thickness of mineralization, given the northwest-angled orientation of the drill holes and the east-dipping to northeast-dipping nature of the mineralization. Significant intercepts from the Windy Peak Base are presented in an attached table.


At Windy Flats North, a fence of three drill holes was designed to test the eastern, downdip extent of mineralization identified during 2019 drilling. Due to the limited amount of drilling in the area, the orientation and true thickness of mineralization are not known. Significant intercepts from the drilling at Windy Flats North are presented in an attached table.


At Windy Flats South, the four drill holes were designed to test historic intercepts and all encountered anomalous gold mineralization. Significant intercepts include five feet grading 6.57 parts per million (ppm) gold (Au) and 10 feet grading 20.35 ppm Au (drill holes PGWP21-11 and PGWP21-12, respectively). Due to the limited amount of drilling in the area, the orientation and true thickness of mineralization are not known. Significant intercepts from Windy Flats South are presented in an attached table.


Qualified person: The foregoing technical information contained in this news release has been reviewed and verified by Zachary J. Black, a director and a qualified person (QP) for National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

About Patriot Gold Corp.

Patriot is exploring its 100-per-cent-owned gold projects in Nevada, which include the Windy Peak gold project, Rainbow Mountain gold project and Vernal gold project. Patriot owns a 3-per-cent royalty in the Moss mine in Arizona, now in commercial production. Patriot also owns a 2-per-cent royalty in the Bruner gold project in Nevada.

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A proper due diligence will lead you into prosperity

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